$APE
ApeCoin (APE) is a cryptocurrency tied to the popular Bored Ape Yacht Club (BAYC) ecosystem, created by Yuga Labs. Launched in March 2022, APE is primarily used within Yuga Labs' metaverse project called Otherside, which aims to build a sprawling virtual world where users can interact and trade digital assets. It serves as the main currency for this metaverse, facilitating in-game purchases, services, and access to exclusive content and events.
APE is also central to the ApeCoin DAO, a decentralized autonomous organization that governs the token’s ecosystem. Holders of APE tokens have the power to vote on proposals, directing how funds are allocated and guiding future developments. Notably, the Ape Foundation manages the day-to-day operations of the DAO and ensures community-approved decisions are implemented.
The total supply of APE is capped at 1 billion tokens, with significant portions allocated to the community, BAYC and Mutant Ape Yacht Club (MAYC) holders, Yuga Labs, and launch contributors. The coin's value has experienced volatility since its launch but remains a key player in the growing intersection of NFTs, gaming, and the metaverse.
